Hot inflation prompts RBA to hike rates
The market is pricing in more rate increases as Australia's Reserve Bank seeks to cool the economy down.
RBA Governor Michele Bullock. Today's board decision was unanimous.
The Reserve Bank of Australia has responded to rising and persistent inflation with a 0.25% rate hike, taking the central bank’s official rate to 3.85%.
Spurred on by last week’s spike in December CPI inflation, which rose from 3.4% to 3.8%, the RBA board today unanimously voted for the first
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